New Mexicans to get another round of tax rebates

SANTA FE, N.M. — Gov. Michelle Lujan Grisham signed into law a new round of rebate payments and an expanded child tax credit for New Mexico.

The governor approved rebates of $500 for single filers and married people filing separately, as well as $1,000 for married couples, heads of households and surviving spouses.

The rebate applies to anyone not filing as a dependent and anyone over age 18. The governor’s office estimates this applies to more than 900,000 people who will receive rebates in June.

New Mexicans ineligible for these rebates will still get relief payments. Legislators set aside $15 million for the state’s human services department to distribute.

The governor signed the rebates as part of a broader tax deal. The deal has an expanded child tax credit and new gross receipts tax deductions for healthcare services.

The governor says the expanded credit will provide around 214,000 families with more than $100 million in tax relief. Depending on income, families can claim a credit of up to $600 per child.

According to the governor’s office, the gross receipts tax deductions are expected to save taxpayers $52 million. Providers can now deduct copays and deductible payments from the GRT on services covered by insurance or a healthcare plan.

We’re digging further into the details of this tax deal. Stay with and KOB 4 Eyewitness News for more updates.